Monday, September 24, 2012

Line of trucks

“Rajaji (C Rajagopalachari)…was the first to describe Nehru’s socialist economy as a ‘licence-permit-quota raj’ in the late 1950s. When a reporter suggested that corruption had increased because Indians, not the British, were ruling, Rajaji had quickly retorted that corruption was less a matter of culture and more about economic incentives. Socialist controls sent out the wrong signals to human beings on how to behave. Yes, culture mattered but culture would quickly change if the incentives changed.”